Trading your strategy on DEMO is a waste of time

darewaller

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Quote from: StartupAnalyst on March 25, 2021, 09:32:12 AM

Demo-trading is such a peculiar trading simulator of the real trades so you won’t lose your money there but won’t have an opportunity to withdraw as well. It’s something like a nice capability for a newbie to test the platform and own trading skills before real trades. No doubt it is very useful option but not a waste of time.

That's the thing about it, you are not going to be suddenly a great trader thanks to it, but you are not going to have zero help from it neither, it is going to help you a bit and that's what I think OP is missing as well. Not everything has to be about making you perfect, some things are not perfect and will stay that way, there is no turning away from that, and just because it is not perfect doesn't mean that you should not do it neither.

Do not let perfection get in the way of greatness, that is what the saying goes and that is why I think demos are not perfect, they are not even great but they are quite good for newbies and anyone who wants to start and never traded before should focus on trading for fake and learn how to trade on the real markets by using fake money and in the end if they get better they will be able to see that result in the end.

Rexler

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Demo trades are where noob traders carry out experiment, before thing of jumping into live trading, so we can't say they are a total waste of time, cuz they do help alot more than you can imagine, noobs use demo trades till they feel they having a trading strategy that works on the market, although I must admit that trading with hard earned money is alot more pressuring than demo trades, cuz demo trades its just a fake money and fake balance while for live trades that's your real money right there, if you don't control your emotions you might loose all of your trading capital.

Spaffin

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Quote from: trigger1975 on March 25, 2021, 12:01:11 PM

Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

I disagree. Demo trading isn't for gaining the psychological experience but for testing out a strategy, getting a feeling for how the strategy works in current market condition, perfecting the trade plan for that particular strategy, find the flaws in the rules and trade management for that strategy and so on. I'd never put a strategy live before I've tested it for at least 100 trades in demo or paper. If you're trading for feeling the heat, it'll burn you in the long run.

You are absolutely right, but in some cases, demos are very helpful for beginners to hone their skills and possible skills for trading cryptocurrencies. For many newbies, the real demo versions of cryptocurrency exchanges are a very good find, because to a greater extent beginners lose their initial capital for the first time in their days of activity during practical training.

trigger1975

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

I disagree. Demo trading isn't for gaining the psychological experience but for testing out a strategy, getting a feeling for how the strategy works in current market condition, perfecting the trade plan for that particular strategy, find the flaws in the rules and trade management for that strategy and so on. I'd never put a strategy live before I've tested it for at least 100 trades in demo or paper. If you're trading for feeling the heat, it'll burn you in the long run.

StartupAnalyst

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Demo-trading is such a peculiar trading simulator of the real trades so you won’t lose your money there but won’t have an opportunity to withdraw as well. It’s something like a nice capability for a newbie to test the platform and own trading skills before real trades. No doubt it is very useful option but not a waste of time.

Myleschetty

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The OP made some good points but still trading one strategy on DEMO is still never a waste of time because the new trader needs to understand the exchange site they are planning to use and some hidden features.

Anrix2036

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If strategy is built on the set of rules to get rid of emotion, and analysis is quantitative to make your trading system more accurate, then DEMO is the best choice to pre-test it. Then go small to LIVE for test, and in the end put more money when you done testing for some time.

conected

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Quote from: santiPOGI on March 23, 2021, 06:46:31 PM

Whether you can afford to lose your money or not, trading is for everyone who wants to learn and to earn just simple
as that. Moreover, having a Demo first in the exchange is one of the fastest way for the newbie to learn a basic tutorial
about how to use the platform whatever it is. So, it is not a waste of time instead it is an additional idea or knowledge about
in trading actually.

- If you want to know about the basic maneuvers of a platform, the community and social networks have probably created very detailed articles on how to register, how to use and how to trade, they certainly won't instruct others to make a mistake as they might get a commission from signing up for their affiliate account. To the best of my knowledge, exchanges currently don't have too many DEMO versions for newcomers to join, they felt that this virtual version was too wasted time, the actual version was optimized for use

LUCKMCFLY

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When the strategy is applied in the Exchange in "Demo mode", it is not only served to test your action plan, but it also serves for the merchant to learn how to use exchange tools, for example: how you can place an order, If you can place "Stop Loss" and "Take profit" at the same time, how to lengthen the gain, if you allow you to re-enter or not, it is better to make an error in the demo mode that makes an error with real money and running risk to lose money for not knowing how to use the Exchange tools. The volume that is handled in the exchange is also known, and SBER well what retirement rates, for each transaction, all this help, if we are wrong in these details with real money, can lose and that is what needs to be avoided .

santiPOGI

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Whether you can afford to lose your money or not, trading is for everyone who wants to learn and to earn just simple
as that. Moreover, having a Demo first in the exchange is one of the fastest way for the newbie to learn a basic tutorial
about how to use the platform whatever it is. So, it is not a waste of time instead it is an additional idea or knowledge about
in trading actually.

Lanatsa

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Quote from: cryptocointrade.com on March 23, 2021, 06:59:54 AM

I agree, I dont like demo accounts.

Trading is not about learning click on a mouse.

Its all about manage and control your fear and your greed.

At the same time you need to understand market movements and the fundamentals behind.

A demo account will not teach anything of this but can actually ruin your ability to control fear/greed since you will learn trading without those.

Demo trades haven't giving out some claims about that but eventually you could really still able to learn up something because not all would really be planning to trade
with real money right away.

Its just a matter of reference though because some does really like to practice up first before they do go with real money and this is where demo would be significant.

If you do hate it out then so be it but it isn't actually a waste of time but I do agree that this wont really be helpful when it comes to emotional aspects.

cryptocointrade.com

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I agree, I dont like demo accounts.

Trading is not about learning click on a mouse.

Its all about manage and control your fear and your greed.

At the same time you need to understand market movements and the fundamentals behind.

A demo account will not teach anything of this but can actually ruin your ability to control fear/greed since you will learn trading without those.

CaVO32

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Quote from: sayaya17 on March 22, 2021, 05:55:40 PM

Everyone's reasons are different. Of course trying demo trading for beginners doesn't hurt, it's good to know how you do your trading strategy. But for newbie
traders who want to trade directly on the market, can try with a small capital first, maybe it can be with $ 10. Of course with $10 it should brave to lose
because there is no trade for beginners who directly earn. Earn from trading only for those who already trade a lot with a lot of experience.

Yes, everyone has their own story and own way of handling things. Some want to directly experience the market, but they need to remind themselves, that the money he will use may lose in the process. But if he doesn't want to take the risk of real money, he can always check the demo trading first. But he needs to remember, that even if he did the demo trading, he is still subject to losing in actual trade. The environment in actual trading is different especially if you are dealing with different coins.

sayaya17

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Everyone's reasons are different. Of course trying demo trading for beginners doesn't hurt, it's good to know how you do your trading strategy. But for newbie
traders who want to trade directly on the market, can try with a small capital first, maybe it can be with $ 10. Of course with $10 it should brave to lose
because there is no trade for beginners who directly earn. Earn from trading only for those who already trade a lot with a lot of experience.

Fredomago

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Quote from: jack05 on March 21, 2021, 03:17:18 AM

Nothing in learning is a wastage of time, it always pays you back in some form or other. People think crypto trading is easy, can be done by anyone and don't require prior training. Read this https://bitcointalksearch.org/topic/data-suggesting-more-than-95-traders-are-losing-5321502

Misconceptions as there are a lots of schemes who victimized those poor investors, thinking that crypto is an easy way to richness, with a lots of hypes and a lots of people who luckily earned from this market.

There lazy people who thinks that they'll get the same fate and just blindly invest their money and loses all after.

Using all the venues for learning is not a waste of time it's a wise move before engaging and invest your money.

justdimin

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

You are definitely wrong, strategy testing is not something just newbies do, and not something you do on a fake market or just backtesting neither, you could always test a strategy live on real market but with fake money as well, and it will work, it will teach you stuff. You might be right about the fact that you will not become a perfect trader, but the thing you are wrong is the fact that there are very very stupid people on earth, and those trading place that you deal with fake money helps them learn a thing or not, there are literally people who do not know how to buy and sell.

There is a famous thing about some famous park in USA about why garbage are not more animal proofed so that animals can't get into them and famous response is "there is a significant overlap between stupidest tourist and smartest animal", so think twice about how idiot people can be. You look like a smart guy, so it could be futile for you, but there are millions of morons, it works for them.

jack05

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Nothing in learning is a wastage of time, it always pays you back in some form or other. People think crypto trading is easy, can be done by anyone and don't require prior training. Read this https://bitcointalksearch.org/topic/data-suggesting-more-than-95-traders-are-losing-5321502

SquallLeonhart

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Quote from: cytpoway121 on March 13, 2021, 03:01:45 AM

I have no intention of riling up anyone, but as a learning trader it is good that we discuss facts with one another. The first truth is that there is no spare money anywhere in the world; every money are valuable. To improve your trading psychology, you must practice your trade strategies on a live trade; even if you start out with 10$; you need to feel the heat, be under pressure.

Trading is for individuals who can afford to lose money, so if you cannot afford to loose money; please do not trade. In trading we are here to multiply money and not create it; live trading helps you compound losses or multiply money; while demo trading creates money for you.

No risk, no reward; start practicing your trading strategy on a live trade; even if it is 1$; feel the heat and develop instinctively.

No amount of knowledge is a waste, so making use of the demo trade is not bad. What really matters is that you make sure that the demo trade platform you’re making use of is that makes use of live charts, that way you will know that you’re using your strategy and practicing on real market chart.

So, it’s going to be helpful and so help you know far you have gotten with properly making use of your particular strategy and you will understand to maintain your profits. What else you have to know is that the reason why some people prefer to start with demo trade is because they don’t have enough money, and putting all that at risk is going to be a waste ,so it’s best to practice and know if it’s going to work for them judging from the level of success they reach with the demo trade.

tvplus006

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Quote from: Kelvinid on March 17, 2021, 11:40:06 PM

Well, DEMO might be a part of the process. May we say that it was a waste of time but just to know that as a new trader, it really affects us and this is a big help for them to have some insights of what they do. But of life don't just stop there, we have to move on and find another ways to have a better trading strategy...

I have previously used demo accounts, only they were not for trading cryptocurrency, but for forex. And while I was using demo accounts, all my trades were closed with a profit. But when I switched to real trading, my trades were no longer profitable and closed at a loss. Obviously, psychology plays a big role here when you start trading with real funds.

SacriFries11

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I think trading at DEMO account can help us in the beginning of our journey in trading, and one of the disadvantage of it is that you can't properly feel that emotion going on in actual trading. For beginners, they have an opportunity to learn in demo account like proper set, learning difference between market, limit and stop loss and they can also manually change the value of the token that they want. They can also explore unique setting without hesitating that they can make some mistakes, especially in actual trades. It's an impressive start for someone that does not have yet money to trade, but they want to trade. Learning about futures I think is the one of the good example that we need to consider using demo account because futures are very risky.

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